Olo Inc. (NYSE:OLO) Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lifted its stake in shares of Olo Inc. (NYSE:OLO) by 6.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 42,023 shares of the company’s stock after acquiring an additional 2,433 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in OLO were worth $186,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. bought a new position in shares of OLO during the 1st quarter valued at about $29,000. Federated Hermes Inc. boosted its holdings in OLO by 644,200.0% during the second quarter. Federated Hermes Inc. now owns 6,443 shares of the company’s stock worth $28,000 after buying an additional 6,442 shares in the last quarter. Rockport Wealth LLC bought a new position in shares of OLO in the first quarter valued at $55,000. Point72 DIFC Ltd lifted its position in shares of OLO by 52.7% during the 2nd quarter. Point72 DIFC Ltd now owns 14,388 shares of the company’s stock valued at $64,000 after acquiring an additional 4,964 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of OLO during the 2nd quarter worth $99,000. Institutional investors own 93.40% of the company’s stock.

Insider Transactions at OLO

In related news, CRO Diego Panama sold 13,555 shares of OLO stock in a transaction on Friday, September 6th. The stock was sold at an average price of $4.90, for a total transaction of $66,419.50. Following the completion of the sale, the executive now owns 569,859 shares of the company’s stock, valued at approximately $2,792,309.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other OLO news, CRO Diego Panama sold 13,555 shares of OLO stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $4.90, for a total value of $66,419.50. Following the completion of the sale, the executive now directly owns 569,859 shares in the company, valued at $2,792,309.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Joanna G. Lambert sold 67,403 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $4.90, for a total transaction of $330,274.70. Following the completion of the sale, the chief operating officer now directly owns 591,646 shares of the company’s stock, valued at $2,899,065.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 113,148 shares of company stock valued at $554,425. 39.33% of the stock is owned by insiders.

OLO Trading Down 0.2 %

Shares of NYSE OLO opened at $5.05 on Friday. Olo Inc. has a one year low of $4.20 and a one year high of $6.84. The business has a 50-day moving average price of $5.03 and a two-hundred day moving average price of $4.82. The firm has a market capitalization of $818.66 million, a PE ratio of -33.66 and a beta of 1.27.

OLO (NYSE:OLO) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.05 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.05. OLO had a negative net margin of 9.36% and a negative return on equity of 0.47%. The business had revenue of $70.50 million during the quarter, compared to analyst estimates of $67.79 million. During the same period in the prior year, the firm earned ($0.04) earnings per share. The firm’s revenue was up 27.6% compared to the same quarter last year. Research analysts anticipate that Olo Inc. will post -0.06 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Piper Sandler reissued an “overweight” rating and issued a $8.00 price target on shares of OLO in a research note on Thursday, August 1st. Lake Street Capital boosted their price target on shares of OLO from $8.50 to $9.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, StockNews.com raised shares of OLO from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, OLO presently has an average rating of “Moderate Buy” and a consensus price target of $8.67.

OLO Company Profile

Olo Inc operates an open SaaS platform for restaurants in the United States. The company’s platform enables on-demand digital commerce operations, which cover digital ordering, delivery, front-of-house management, and payments. Its solutions include Order, a suite of solutions powering restaurant brands’ on-demand commerce operations, enabling digital ordering, delivery, and channel management through ordering, dispatch, rails, switchboard, network, virtual brands, kiosk, catering, and sync modules; Engage, a suite of restaurant-centric marketing solutions optimizing guest lifetime value by strengthening and enhancing the restaurants’ direct guest relationships, through the guest data platform, marketing, sentiment, and host modules; and Pay, a frictionless payment platform that enables restaurants to grow and protect their digital business through customer payment experience that offers advanced fraud prevention to improve authorization rates for valid transactions, and increase basket conversion through its Olo Pay module.